Stat of the Day: Richmond Manufacturing Remains Strong
As everybody fears the world falling into a double dip recession, the Richmond Fed Manufacturing Index reported a strong 23 today. The number dipped slightly from the 26 in May, but it still remained solidly above 0 signaling strong growth ahead.
New orders remained strong at 25 even though Backlog fell to only. Employment data was more encouraging with Employees growth from 4 to 9 and the Average Workweek expanding slightly.
All in the all the report suggests strong and steady growth ahead at least for that region. Most people don't follow this region as closely but it does give an earlier glimpse into the June economy.
Posts fuzzy but if you click on the graph its easy to read.
New orders remained strong at 25 even though Backlog fell to only. Employment data was more encouraging with Employees growth from 4 to 9 and the Average Workweek expanding slightly.
All in the all the report suggests strong and steady growth ahead at least for that region. Most people don't follow this region as closely but it does give an earlier glimpse into the June economy.
Posts fuzzy but if you click on the graph its easy to read.
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